Chambers UK 2021

Serle Court is highly renowned for its extensive expertise in offshore trust matters and has comprehensive knowledge of an ensemble of jurisdictions including the Channel Islands, the BVI and the Cayman Islands. The set offers further expertise in Asian jurisdictions. Its barristers are frequently instructed by firms from across the globe. Members continue to act in some of the most substantial cases in offshore jurisdictions, including Wong v Grand View in Bermuda. One instructing solicitor comments: "They are excellent without exception."

Client Service: "The clerks are great: they are very user-friendly, practical, and pragmatic." "The client service is second to none; we would not be able to run any of our cases without them."

Silks

Alan Boyle QC: "He really gets involved in a case and is really on top of the detail and just incredibly easy to work with." "He is at the top of his tree."

Elizabeth Jones QC

Philip Marshall QC:  "He is a truly excellent advocate." "Incisive and robust." "He is a serious big hitter."

Philip Jones QC

John Machell QC: "He gives excellent advice and is cost-effective and very responsive. A very high-quality silk."

Jonathan Adkin QC: "A very powerful advocate and a hugely valuable ally to have."

Richard Wilson QC: "Astute, responsive, prepared to make himself available, and the advice is always pragmatic." "Excellent to deal with and offers solid commercial advice." "He is very easy to work with and makes himself available no matter how busy he is."

Dakis Hagen QC: "He continues to be a top trust adviser and one of our absolute go-to barristers. Excellent with clients." "Excellent to work with: approachable, responsive, and always adds value to the case." "He is charming with clients and has an almost unparalleled ability to simplify complex legal principles and facts for the benefit of both solicitors and lay clients."

Juniors

Nicholas Harrison: "He is always on top of every aspect of the case. Quite outstanding." "He is very hard-working and clear-minded."

Kathryn Purkis: "A fantastic asset on matters with Jersey and English law aspects." "She is very approachable and hands-on." "Efficient, precise and extremely courteous."

Giles Richardson: "An outstanding barrister, easy to work with, solid and technically very gifted." "His pragmatic advice is world class." "He provides quick and thorough advice and inspires confidence with clients."

James Brightwell: "He is very, very knowledgeable, thoughtful, very analytical and hard-working." "A very solid, very bright, prompt and reliable senior junior to go to. He has an in-depth knowledge of trust law."

Ruth Jordan: "She is meticulous in her review of papers." "She works incredibly hard and doesn't miss anything. She has a great ability to make connections in different jurisdictions."

Matthew Morrison: "He is very good and has excellent drafting skills." "Very thorough, industrious and bright."

Legal 500 2021

For many Serle Court 'provides a good combination of commercial acumen and trusts expertise, making them an ideal set for offshore trusts and commercial work', covering a range of work in the British Overseas Territories and beyond.

Silks:

Alan Boyle QC: "He is as fantastically clever as everyone says he is."

Elizabeth Jones QC: "She has a fabulous knowledge of the law and speed at assimilating information and detail that is second to none."

Philip Marshall QC: "A natural choice for heavy-duty offshore-fraud work"

Philip Jones QC: "A great cross-examiner and strategist."

John Machell QC: "An excellent advocate who finds commercial solutions."

Jonathan Adkin QC: "Astute and commercially-minded with a no-nonsense courtroom approach."

Richard Wilson QC: "An incredibly robust advocate who is very good at reading the tribunal."

Dakis Hagen QC: "Phenomenally intelligent and a true expert in the field."

Timothy Collingwood QC: "User-friendly with an incisive mind and bags of offshore experience."

Juniors:

Nicholas Harrison: "A master at working with expert witnesses and able to build a bridge between them and the court."

Kathryn Purkis: "She strikes the necessary balance to keep both the tribunal and the client happy."

Giles Richardson: "He balances different jurisdictions with aplomb and is particularly skilled at distilling complex advice into digestible form."

James Brightwell: "James is fabulously bright and easy to work with. He is able to clearly communicate complex legal principles in a way that is understandable to clients and presents excellently."

Ruth Jordan: "Always well-prepared, she knows her area of law well."

Matthew Morrison:  "Undoubtedly one of his strengths is assimilating large volumes of information and drilling down to the key issues."

Sophie Holcombe: "Naturally blessed with strong analytical skills and commercially."

Adil Mohamedbhai: "He brings to the table a razor-sharp intellect and a collegiate approach."

Emma Hargreaves: "She has excellent insight and in-depth knowledge of trusts law."

Zahler Bryan: "Razor-smart - a great asset to a team, her input is always well-thought-out and useful."

Kea Investments Ltd v Watson:

Lord Justice Nugee handed down judgment yesterday in Kea Investments Ltd v Watson [2022] EWHC 5 (Ch), rejecting a committed contemnor’s argument that his costs should be paid by the successful applicant. This judgment will be of interest to parties considering committal as a means to secure compliance with court orders as well as to those whose clients are in breach of those orders.

During a 4 week committal hearing Kea established a serious breach in relation to 5 of the 10 sub-counts tried before Lord Justice Nugee (Kea Investments Ltd v Watson [2020] EWHC 2599 (Ch)). One of these 5 serious breaches was a contumacious breach which merited an immediate term of 4 months’ imprisonment (Kea Investments Ltd v Watson [2020] EWHC 2796 (Ch)).

In yesterday’s judgment, Lord Justice Nugee rejected Mr Watson’s argument that Kea should pay part of his costs because it had not succeeded on all the counts included in the application. He held that Kea was the successful party for the purposes of CPR r44.2(2) as it had succeeded in establishing a sufficiently wilful breach of an order to require punishment by way of committal. It did not matter that the committal application was supported by a number of counts or sub-counts: it was still a single application with a single objective, namely Mr Watson’s committal. Under the general rule Kea was therefore entitled to its costs, subject to the court’s discretion to make a different order under CPR r44.2(2)(b).

The judgment contains a useful analysis of the appropriate exercise of the court’s discretion under CPR r.44.2(2)(b) where a party has not succeeded on all counts underlying an application. Although Kea had been unsuccessful in relation to some of the counts supporting its application, it had not acted unreasonably in pursuing those counts. Taking into account all the circumstances of the case, Mr Watson was ordered to pay 50% of Kea’s costs on the indemnity basis.

The judgment is available here.

Elizabeth Jones QC, Justin Higgo QC, Gareth Tilley and Zahler Bryan (instructed by Toby Graham of Farrer & Co) acted for Kea.

DIFC Court Practice: A Year On:

4th June 2021: Transcontinental Trusts: International Forum Session with Professor Suzanne Rab:

2nd June 2021: Transcontinental Trusts - International Forum Session With Prof. Jonathan Harris QC (Hon.):

2nd June 2021: Transcontinental Trusts - International Forum Session With Kathryn Purkis:

Serle Court & Maples Group: Cross-Border Private Client & Trusts Series (Session 1):

Watson v Kea Investments:

Elizabeth Jones QC, Justin Higgo QC, Gareth Tilley, Paul Adams, Zahler Bryan, and Oliver Jones continue to act for Kea Investments in the ongoing litigation against Eric Watson, following the substantial judgment obtained against Mr Watson for deceit and breach of fiduciary duty in 2018. This year resulted in notable decisions on the circumstances in which a defendant can have resort to assets subject to a freezing or proprietary injunction when there is an unsatisfied judgment debt ([2020] EWHC 472 (Ch)), a judgment creditor’s right to be subrogated to the position of a bank that had used money held on trust for the judgment creditor to satisfy debts of its customer, the judgment debtor ([2020] EWHC 309 (Ch)) and, in a judgment reaffirming the risk taken by litigants who deliberately breach court orders, Mr Watson was committed to prison for 4 months for failing to disclose assets which were made available for his use ([2020] EWHC 2599 (Ch); [2020] EWHC 2796 (Ch)). Mr Watson’s application to stay the committal order was refused.

Please click here for the most recent judgment.

Wong v Grand View Private Trust Company Ltd:

Dakis Hagen QC (assisted by Emma Hargreaves) acts for the Plaintiffs and Jonathan Adkin QC (assisted by Adil Mohamedbhai) acts for the Defendant trustee in Wong & Anor v Grand View Private Trust Company Ltd, a claim to recover substantial trust property transferred to a trustee of a purpose trust. The Plaintiffs succeeded in obtaining summary judgment at first instance on the ground that powers of addition and exclusion cannot be exercised in a manner which alters or destroys the substratum of the trust ([2019] SC (Bda) 37 Com (5 June 2019)), but this was overturned by the Bermuda Court of Appeal in April 2020 (Civil Appeal No. 5A of 2019, 20 April 2020). Richard Wilson QC (assisted by James Weale) acts for Tony Wang, an intervenor in the appeal. The Plaintiffs and Tony Wang have each been granted leave to appeal to the Judicial Committee of the Privy Council.

Ivanishvili, Bidzina and others v Credit Suisse Trust Ltd [2020] SGCA 62:

Jonathan Adkin QC, Sophie Holcombe, and Jamie Randall act on behalf of the former Prime Minister of Georgia and his family as beneficiaries of a Singapore Trust in Ivanishvili, Bidzina and others v Credit Suisse Trust Ltd [2020] SGCA 62. Claims have been commenced against Credit Suisse entities for losses arising from the mismanagement of an investment portfolio said to be worth over US$1bn. In July 2020 the Singapore Court of Appeal dismissed Credit Suisse Trust’s jurisdiction challenge, bringing an end to a long-running jurisdiction battle.

Click here to view the most recent judgment.

Credit Europe Bank (Dubai) Ltd v. (1) NMC Trading LLC (2) NMC Healthcare LLC (3) Bavaguthu Raghuram Shetty [2020] DIFC CFI 031:

In Credit Europe Bank (Dubai) Ltd v. (1) NMC Trading LLC (2) NMC Healthcare LLC (3) Bavaguthu Raghuram Shetty [2020] DIFC CFI 031, Rupert Reed QC and Gregor Hogan acted for the major Dutch Bank, CEBD, to obtaining a worldwide freezing order against Dr BR Shetty, founder of the troubled NMC Group. The decision also confirmed that an applicant need not demonstrate any assets of the respondent in the jurisdiction of the DIFC to obtain a worldwide freezing order. Rupert and Gregor will represent CEBD at the trial of its claim against Dr Shetty in September 2021.

FAL Oil Company Ltd v Sarjah Electricity and Water Authority:

Rupert Reed QC and Gregor Hogan act for the Sarjah Elecricity and Water Authority in FAL Oil Company Ltd v Sarjah Electricity and Water Authority. The case involves the challenging of the recognition and enforcement in the DIFC of a Sarjah court judgment on the basis of inter-Emirate immunity. This is the first time the DIFC Court has considered the concepts of sovereign immunity within the UAE and judgment is expected in early 2021.

Khalifeh v Blom Bank [2020] EWHC 2427(QB):

In Khalifeh v Blom Bank, Zahler Bryan is acting for the claimant who seeks the return of monies held in a Lebanese bank account and, in a high-profile decision earlier this year, successfully resisted the Lebanese bank’s jurisdiction challenge by establishing that the claimant was a consumer for the purposes of the European rules of jurisdiction ([2020] EWHC 2427(QB)).

Brown & Company Plc v Faber Capital (DIFC) Ltd:

In Brown & Company Plc v Faber Capital (DIFC) Ltd, Rupert Reed QC, and Gregor Hogan continue to act for a financial services firm defending allegations of breach of fiduciary duty arising from a sophisticated phishing attack.

St Johns Trust Company (PUT) Ltd v Medlands (PTC) Ltd:

John Machell QC and Dan McCourt Fritz act for one of the respondents to an appeal in St Johns Trust Company (PUT) Ltd v Medlands (PTC) Ltd. The appeal concerned various orders made by the Court exercising its supervisory jurisdiction in relation to trusts. The appeal was heard by the Bermudian Court of Appeal in January 2020.

B v B:

In B v B, Emma Hargreaves and Gregor Hogan act for the wife in divorce proceedings involving Portuguese property held in a Cypriot trust. The case involves complex questions of jurisdiction and trusts law, and is expected to be one of the first decisions considering the Privy Council’s decision in Webb v Webb. Judgment is expected in early 2021.

Cross-Border Litigation Conference, Cyprus Limassol:

International & Offshore:

DIFC Courts and Practice Session 5 ‘Procedural Law and Appeals’:

DIFC Courts Law and Practice Session 4 ‘Substantive Law’:

DIFC Courts Law and Practice Session 3 ‘Arbitration’:

Geneva Trust Company (GTC) SA v IDF & Anr (Re Stingray Trust) (judgment 21/12/20):

Dakis Hagen QC appeared for the first defendant in Geneva Trust Company (GTC) SA v IDF & Anr (21/12/2020) FSD 248 OF 2017 (IKJ) in her successful application for a stay of a claim in the Cayman Islands seeking declarations as to the validity of a Cayman Islands trust which trust was already being impugned by her in ongoing litigation in Italy.  The application was met in part by the argument that the Cayman court had an exclusive statutory jurisdiction to determine such matters under s. 90 of the Cayman Trusts Law (which, it was said, in that context abrogated the power to stay on grounds of forum non conveniens);  the court noted that such had been the orthodox view historically based on authorities stretching back 20 years. 

However, having conducted a full survey of the case law, Kawaley J found that on analysis no authority was binding or persuasive as to the presence of such a statutory exclusive jurisdiction, nor was such the proper reading of the statute, and on the facts ordered a stay of the Cayman claim.  The case is also important more widely for its commentary on the scope of jurisdiction clauses in trust instruments in the wake of Crociani. 

Dakis Hagen QC appearing with Rachael Reynolds and Deborah Barker Roye (both of Ogier) represented the successful applicant.

The full judgment is accessible here. 

Basin Supply Corporation v (1) Rouge LLC (2) Claude Barret [2018] CFI 057:

In Basin v Rouge CFI 057/2018, James Weale appeared in the last in-person hearing in the DIFC Court before lockdown. Following a trial, James obtained judgment for the claimant in a claim under a guarantee agreement: [2018] CFI 057. The Court gave guidance on the extent to which variations to underlying obligations affect the validity of an associated guarantee. James also successfully defeated a jurisdiction challenge submitted to the Joint Judicial Committee (Cassation No. 9 of 2019).

A link to the judgment can be found here.

DIFC Courts Practice Session 1 ‘Jurisdiction’:

Attorney General v Zedra Fiduciary Services (UK) Ltd [2020] EWHC 2988 (Ch):

In Attorney General v Zedra Fiduciary Services (UK) Ltd [2020] EWHC 2988 (Ch), Will Henderson acted for the Attorney General. This involved ‘The National Fund’ which was settled with £500,000 of cash and securities in 1928 on trust to accumulate income and profits until the date fixed by the trustee as being the date when, either alone or together with other funds then available for the purpose, the fund was sufficient to discharge the National Debt. The fund was then to be transferred to the National Debt Commissioners to be applied by them in reduction of the National Debt. The Fund is now worth about £0.5 billion. Zacaroli J held that there was a valid charitable trust and that the court had jurisdiction to order a cy-pres scheme. He adjourned the question of what (if any) scheme to order.

Please click here to view the judgment. 

SBM Bank (Mauritius) Ltd v Renish Petroleum FZE:

Rupert Reed QC and James Weale act for the Claimant bank in a US$30m fraud claim against various defendants in proceedings in the DIFC in SBM Bank (Mauritius) Ltd v Renish Petroleum FZE (CFI 054/2018). Having successfully obtained summary judgment against the first two defendants, the trial against the third defendant has been listed in December 2021. A committal application against the first two defendants has been listed for January 2021.

Please click here to view the recent judgment.

Ivanishvili v Credit Suisse Trust [2020] SGCA 62:

The Singapore Court of Appeal has dismissed Credit Suisse Trust’s jurisdiction challenge in breach of trust proceedings brought by the beneficiaries of a Singapore Trust, bringing an end to a long-running jurisdiction battle. The Court allowed the Claimants’ appeal on the grounds that Singapore was the most appropriate forum to determine the breach of trust claims against the trustee, and laid down important guidance as to the effect of forum for administration clauses in trust deeds. The Court of Appeal held that the forum for administration clause in the trust deed functioned as a jurisdiction clause, but that it did not govern all proceedings: it designated the jurisdiction that had supervisory jurisdiction over the trust, rather than dictating the venue for the resolution of contentious disputes. Jonathan Adkin QC and Sophie Holcombe act for the Claimants, instructed by Signature Litigation LLP, together with Drew & Napier (Singapore). The full Judgment can be found here.

Sofer v SwissIndependent Trustees [2019] EWHC 2071:

In Sofer v SwissIndependent Trustees SA [2020] EWCA Civ 699, Richard Wilson QC and James Weale acted for the respondent in an appeal against an order striking out the claimant’s pleading on the basis that it did not properly particularise a claim in fraud. The Court of Appeal gave important guidance on the pleading requirements of fraud in the context of a dispute against a professional trustee.

Please click here to view the judgment.

Grand Valley General Trading LLC v GGICO Sunteck Ltd DIFC CFI 044/2018, DIFC CA 007/2019:

Grand Valley General Trading LLC v GGICO Sunteck Ltd DIFC CFI 044/2018, DIFC CA 007/2019 concerns a joint venture dispute in relation to a property development in the Burj Khalifa area in on-shore Dubai. Rupert Reed QC and Sophia Hurst have obtained judgments from the DIFC courts on issues as diverse as whether a non-party 50% joint venture partner had standing to apply to set aside a default judgment for the dissolution of the joint venture company; the test of desirability under RDC 20.7 O for joining a new party; and whether the DIFC Courts had jurisdiction over the dispute, including the power to stay proceedings in favour of arbitration under Article 13 of the Arbitration Law. 

IMMS v BankMed SAL [2019] DIFC CA 013:

In IMMS v BankMed SAL [2019] DIFC CA 013, Rupert Reed QC and Gregor hogan acted on the appeal of an interim refusal to grant an injunction freezing assets to the value of USD 755 million. Although the Court declined to find a sufficient risk of dissipation, it is likely to confirm the putative jurisdiction of the DIFC Courts to grant interim relief in support of foreign court and arbitral proceedings. 

YYY Ltd v ZZZ:

Rupert Reed QC and Zoe O'Sullivan QC represented the successful claimant in YYY Ltd v ZZZ Ltd [2017] DIFC ARB 005, a landmark decision of the DIFC Court refusing to recognise a decision of the highest Dubai national court on public policy grounds. The DIFC Court held that the Dubai Court of Cassation had breached its obligations under the New York Convention by applying its own law to determine the validity of the clause, rather than the law chosen by the parties. This reaffirms the pro-arbitration bias of the common law courts, and will have importance for arbitration practitioners beyond the DIFC.

Larmag v First Abu Dhabi Bank [2019] DIFC CA 010:

In Larmag v First Abu Dhabi Bank [2019] DIFC CA 010, the DIFC Court of Appeal significantly extended the party jurisdiction of the DIFC Courts under Article 5(A)(1)(a) of the Judical Authority Law, ordering disclosure by a UAE bank on the basis that, in being 'recognised' by the Dubai Financial Services Authority in order to trade on NASDAQ Dubai, the Bank was 'authorised' to carry on financial services in the DIFC and therefore a 'Licensed DIFC Establishment'. Rupert Reed QC and Sophia Hurst act for First Abu Dhabi Bank.

AF v SF [2019] EWHC 1224 (Fam):

In AF v SF [2019] EWHC 1224 (Fam) Dakis Hagen QC and James Weale acted for a respondent husband who lacked capacity in relation to a substantial financial remedy claim against a suite of ancient and dynastic trusts. 

Re Scherbakov:

Dakis Hagen QC and Emma Hargreaves continue to act for the adult children of a late Russian businessman in Re Scherbakov, deceased, a cross border dispute concerning the succession to his very substantial worldwide estate and related proceedings concerning the beneficial ownership of very valuable shares in a BVI company. Dakis and Emma recently succeeded in obtaining an order for joint case management of the two English claims, notwithstanding opposition from the claimants. Giles Richardson acts for the deceased’s former wife and Richard Wilson QC and Oliver Jones act for the interim administrators.

HSBC International Trustee Limited v Tan Poh Lee FSD 175 of 2019 (IKJ):

Dakis Hagen QC and Emma Hargreaves advised the trustee in HSBC International Trustee Limited v Tan Poh Lee FSD 175 of 2019 (IKJ), a decision of the Cayman Court on the limits of the Cayman Islands' firewall legislation.

Hartogs v Rothschild AG [2019] EWHC 1915:

Richard Wilson QC and James Weale (acting for the Claimant and Defendant respectively) successfully set aside two multi-million-dollar trust on the ground of equitable mistake in Hartogs v Rothschild Trust AG [2019] EWHC 1915.

Re L&M Trust:

Timothy Collingwood continues to act for the Claimants in Re L&M Trust, in proceedings in the BVI seeking to set aside a trust. He appeared at the hearing of an application to obtain unredacted copies of documents held by a receiver appointed over the trust assets.

T Trusts:

In the T Trusts, Kathryn Purkis continues to advise new trustees in relation to trusteeship transfer issues arising in a network of family trusts, including in relation to an allegedly forged deed of indemnity.

ITG Ltd and Bayeux Ltd v Geneva Trust SA [2019] GRC 064:

James Brightwell acted for the Plaintiffs and Timothy Collingwood acted for the new trustees in the latest Tchenguiz instalment, ITG Ltd and Bayeux Ltd v Geneva Trust SA [2019] GRC 064, where the Guernsey Royal Court followed the decision in Re Z Trusts on the priority of trustee creditor claims and held that the assignment of a claim to the present trustees had resulted in the discharge of the debt.

PTNZ v AS:

Dominic Dowley QC, Richard Wilson QC and Zahler Bryan acted for the trustee in PTNZ v AS, a Public Trustee v Cooper application concerning the restructuring of a substantial group of English trusts, in a case involving proceedings before the English and Jersey courts.

Re B:

John Machell QC and Dakis Hagen QC appeared before the Chief Justice of the Cayman Islands in Re B, a Public Trustee v Cooper application approving the restructuring of a $1bn trust. Emma Hargreaves was junior counsel to the Protection Committee.

Shanda Games Ltd v Maso Capital Investments Ltd & Ors (Cayman Islands) [2020] UKPC 2:

Philip Jones QC appeared in the Cayman Islands Court of Appeal in Shanda Games, one of China's largest computer games companies which delisted from the NYSE on a merger taking place. This was the first case to reach the Court of Appeal in relation to section 238 of the Cayman Companies Law, and involves an important point of principle as to whether a minority discount should be placed to valuation of shares of dissenting shareholders to a merger. Judgment is awaited, and the matter is expected to reach the Privy Council.

Please click here to view the judgment.

Investec Trust (Guernsey) Ltd v Glenalla Properties Ltd [2018] UKPC 7:

Kathryn Purkis  and James Brightwell obtained judgment in and undertook the costs arguments in respect of the Privy Council decision of Investec Trust (Guernsey) Ltd v Glanalla Properties Ltd [2018] UKPC 7. This case confirmed (amongst other things) that the private international law status of trustees (at least of Channel Island trusts), and that notwithstanding the Jersey legislation, a creditor must nonetheless access trust funds by being subrogated to the trustee's indemnity from the fund. 

Please click here to view the judgment. 

Grupa Ozarow v Clean Energy Trading CL:

Professor Jonathan Harris QC (Hon.) and Sophie Holcombe acted for the defendant company trading in Carbon Credits in successfully discharging an ex parte injunction obtained in support of Polish proceedings on the basis, inter alia, that the relevant EU jurisdiction rules were arguably infringed.

Please click here for the judgment.

SerleShare:

'The New DIFC-LCIA Rules 2021: A Drive to Efficiency' article by Zoe O'Sullivan QC and Sophia Hurst

'Creditor v beneficiary: enforcement actions against interests under Jersey trusts' article by Kathryn Purkis

'Cayman clarifies trust law on “firewall” legislation and scope of jurisdiction clauses' article by Dakis Hagen QC

'Judgment in Basin Supply Corporation v (1) Rouge LLC (2) Claude Barret [2018] CFI 057' article by James Weale

Gulf Business:

'Covid-19 impact: How fast has dispute resolution transitioned to a digital model in UAE' article by Zoe O'Sullivan QC

Gulf News:

'COVID-19 fallout: Businesses will soon be testing UAE’s legal boundaries' article by Rupert Reed QC and Gregor Hogan